Advertisement
 
YOU ARE HERE: LAT HomeCollectionsStock Splits
IN THE NEWS

Stock Splits

FEATURED ARTICLES
BUSINESS
December 17, 1992
Fidelity National Financial Inc. on Wednesday declared a three-for-two stock split effective Jan. 18, with shares to be distributed Feb. 4. The title insurance underwriter, based in Irvine, also said it will pay a quarterly dividend of 8 cents, to be paid after the split. In a statement, Fidelity President William P. Foley II said the split "reflects our ongoing confidence in Fidelity's performance. Increasing our outstanding shares should enhance the stock's marketability."
ARTICLES BY DATE
BUSINESS
March 21, 2011 | Reuters
Citigroup Inc. will resume paying a nominal dividend after it uses a reverse stock split to shrink the number of shares outstanding, taking a small step in its recovery from the financial crisis. Citigroup will pay a quarterly dividend of a penny a share, its first payout since 2009. But the bank's shares dropped Monday, in part because it remains behind rivals like JPMorgan Chase & Co., and Wells Fargo & Co. Those banks Friday received regulatory authorization to increase their dividends as much as 20 cents a share and buy back stock.
Advertisement
BUSINESS
January 8, 2000 | Bloomberg News
Ants Software.com postponed a 2-for-1 stock split scheduled for next week, sending its shares down 19%. Chairman Fred Pettit said the company changed its position on the planned move, announced Dec. 22, because shareholders haven't approved the split or authorized the necessary increase in outstanding shares. Shares in Ants, which says its product can speed computer software, fell $4 to close at $17.25 in over-the-counter trading.
OPINION
September 9, 2007 | Ezra Klein, Ezra Klein is a staff writer at the American Prospect. He blogs at EzraKlein.com.
People say that economics is complicated. But it sure looks simple to me. After all, what's so complicated about a sector that can be represented in a single arrow? Up for good, down for bad. And if that weren't easy enough, we've got green for good, and red for bad. It's child's play. It even looks like a toy I played with as a child. The green arrow made a cow moo, as I remember. Looks, however, can be deceiving.
BUSINESS
April 13, 1999
In a cost-cutting measure, California Coastal Communities Inc. said Monday it proposed a 1-for-100 reverse stock split, to be immediately followed by a 100-for-1 forward stock split. The move would cash-out about 11,200 so-called odd-lot shareholders, who each hold less than 100 shares in the Irvine home builder. Such shareholders hold about 235,000 shares, or 2.2% of the company.
BUSINESS
April 22, 1999 | Dow Jones
Tivoli Industries of Santa Ana said Wednesday it has been notified by Nasdaq officials that its stock is no longer in danger of losing its listing on the Nasdaq market. A reverse 1-for-3 stock split, which took effect late last month, has bumped the shares above the $1 minimum needed to continue trading on the Nasdaq SmallCap market. Tivoli, which makes specialty lighting and related products, had been one of several companies wrestling with tougher listing standards imposed last year by Nasdaq.
BUSINESS
March 12, 1999
Sonic Jet Performance Inc., Huntington Beach-based maker of personal watercraft and recreational/sport boats, announced a 2-for-1 stock split, effective March 26 for shareholders of record March 12. Directors approved the split "in an effort to provide more liquidity and to broaden shareholder base," said president Alex Mardikian. The company will have 13 million shares of stock outstanding after the split. The stock, which trades over the counter, closed Thursday at $20.63, up 63 cents a
BUSINESS
October 6, 1998
Shareholders of Tustin-based Cerplex Group Inc. have approved a 1-for-10 reverse stock split, decreasing the number of shares of common stock outstanding to 7.2 million from 72 million, the company said. The company, a provider of computer services, was created from the merger April 30 of Cerplex and Aurora Electronics. The company also said it has received an additional infusion of $5 million from its largest shareholder, New York-based private capital company Welsh, Carson, Anderson & Stowe.
BUSINESS
March 16, 1999
Newport Beach-based Consolidated Builders Supply Corp. said its directors have approved a 1-to-5 reverse stock split. The stock, which is traded over the counter, closed at 6 cents a share on March 9, the last day that the shares traded.
BUSINESS
August 23, 2000 | Bloomberg News
Semiconductor maker Semtech Corp. (SMTC) said Tuesday it will split its common stock 2-for-1 after the shares almost tripled over the past year. Shareholders as of Sept. 5 will receive one additional share for each share held, payable Sept. 25, Semtech said. The Newbury Park, Calif.-based company split its shares a year ago. Net income more than doubled to $13.7 million, or 36 cents a share, in the second quarter ended July 30 from $6.
BUSINESS
June 9, 2005 | From Bloomberg News
H&R Block Inc. said fiscal fourth-quarter profit rose 6.9% on an increase in mortgage lending, after adjusting for a restatement that boosted year-earlier earnings. It also set a 2-for-1 stock split. Net income rose to $616.5 million, or $3.66 a share, from $576.9 million, or $3.24, a year earlier, the Kansas City, Mo.-based company said. The company restated earnings for fiscal 2004 and 2003, adjusting for changes in the way it accounts for acquisitions, leases and other items.
BUSINESS
March 18, 2005 | Sallie Hofmeister, Times Staff Writer
More than perhaps any other media mogul, Viacom Inc. Chief Executive Sumner Redstone grades himself on the vitality of his company's stock price. The 81-year-old's net worth of $8 billion is closely tied to his 70% controlling stake in Viacom. He is famous for calling his broker during meetings for the latest trading activity. Now Redstone's legendary obsession with every tick of the stock is fueling his latest gambit: a proposal to split Viacom in two, perhaps by the end of the year.
BUSINESS
February 12, 2005 | From Reuters
Apple Computer Inc., whose shares have almost quadrupled in value in the last year on the success of its iPod music player, said Friday that its board approved a 2-for-1 stock split -- a move that sent the share price to another record closing high. Shares of the Cupertino, Calif. company have been on a tear as iPod sales have soared with the introduction of less expensive versions of the music player.
BUSINESS
July 14, 2004 | From Dow Jones/Associated Press
Wireless communications company Qualcomm Inc. declared a 2-for-1 stock split Tuesday and increased its quarterly dividend by 40%. The San Diego-based maker of cellphone chips said its quarterly cash dividend would increase to 14 cents a share from 10 cents on a pre-split basis and to 7 cents from 5 cents on a post-split basis. The increased dividend rate will be payable Sept. 24 to shareholders of record on Aug. 27. The stock split will take effect Aug. 13 for holders of record on July 23.
BUSINESS
June 12, 2004 | From Bloomberg News
Viacom Inc. Chief Executive Sumner Redstone's plan to split off the company's 82% stake in Blockbuster Inc., the world's largest video-store chain, is getting a cool reception from some shareholders. Viacom, which announced the proposal in February after failing to find a buyer, expects to give Viacom investors the option of exchanging their shares for new stock in Blockbuster, which also may pay a special dividend to shareholders.
BUSINESS
May 13, 2004 | From Bloomberg News
Northrop Grumman Corp., the world's largest builder of warships, said Wednesday that it expected sales to climb 7.1% next year as U.S. defense spending rose. The Century City company also raised its dividend and said it would split its stock for the first time since 1984. Northrop forecast at least 10% growth in 2005 earnings per share on sales of $30 billion. It wasn't more specific in a statement. Northrop repeated its 2004 forecast for profit from continuing operations of $5.60 to $5.
BUSINESS
October 24, 2000
Rainbow Technologies Inc., Irvine provider of Internet security software, completed its previously announced 2-for-1 stock split. The shares begin trading today at the post-split price, the company said. The stock, which has more than doubled, closed Monday at $48.63, up $1.63 a share, in Nasdaq trading.
BUSINESS
March 5, 2004 | From Reuters
Coffee roaster Farmer Bros. Co. said its board declared a 10-for-1 stock split in the form of a one-time stock dividend after the Torrance-based company completed its Delaware reincorporation. The stock split will entitle each stockholder of record to receive nine additional shares for every share of Farmer Bros. stock held at the close of business April 23. The new shares will be issued May 10. After the split, the company will have about 16.1 million shares outstanding.
Los Angeles Times Articles
|